The move to a new land-based casino in June of last year has reversed a decade long decline in gamblers and gambling revenue at Bettendorf's Isle of Capri.

For the fiscal year ended June 30, the Isle (now owned by Eldorado Resorts, Inc. of Reno, NV) attracted more than 1 million gamblers, up more than 30 percent from fiscal 2016. With more admissions, the Isle's adjusted gross revenue climbed to $77.5 million, up more than 11 percent compared with the previous fiscal year.

Both numbers are still far below the heyday for casino gambling. Admissions at the Isle of Capri peaked at more than 2 million in 2000, while adjusted gross revenues reached a high of $105 million in 2004.
A similar rebound also was seen at Davenport's Rhythm City Casino with the opening of a new land-based facility in June of 2016.

Isle of Capri Casinos, Inc. – owner of Bettendorf's Isle of Capri Casino – announced this morning (9/19) it had reached an agreement to be acquired by Eldorado Resorts of Reno, Nevada in a stock and cash transaction valued at $1.7 billion.

Eldorado would acquire all the outstanding Isle stock for $23 per share, or 1.638 shares of Eldorado common stock for each share of Isle stock. The $1.7 billion value includes the assumption of the Isle's $929 million of long-term debt.

First quarter revenues at the Isle of Capri Casinos, Inc. – owner of Bettendorf's Isle of Capri gambling operation – fell 2.4 percent in the first quarter, but the St. Louis-based firm managed to post a $10.3 million profit, 25 cents per share, for the three-month period ended July 24.

Revenues at the gambling firm totaled $240.9 million for the first quarter, compared to $246.9 million for the same period a year ago.

The Iowa Department of Transportation (IDOT) this spring paid $1.9 million to acquire 3.8 acres of Bettendorf riverfront property – owned by the Goldstein family's Green Bridge Company – needed for the new Interstate 74 Bridge.

The land was part of the property once hyped as the future site of a Mark Twain-themed amusement park by gambling proponents setting off to lobby the Iowa legislature in the early 1990's.

Eight months after the Bettendorf sports complex opened for business, the city has yet to determine how much developers will contribute to the $760,000 cost overrun for streets, sewers and storm water detention for the facility.

Grain Processing Corporation (GPC) has been ordered to pay $50 million in damages to settle a class action lawsuit over air pollution from its Muscatine corn-milling plant that harmed thousands of nearby residents.

Iowa District Court Judge John Telleen gave preliminary approval of the... more